John Elkann

MILAN: The Agnelli dynasty will crown the new czar of the Fiat automotive empire on Tuesday when John Elkann, scion of the family known as "Italy's Kennedys," takes over at the tender age of 32. Already vice chairman of Fiat, Elkann will replace 83-year-old Gianluigi Gabetti, a close associate of the Agnelli clan, at the head of IFIL, the holding company that manages a portfolio worth some e8 billion. The iconic industrial family's holdings include a 30% stake in Fiat, 2.4% in...

TURIN, ITALY: Shareholders on Thursday put Fiat's ambitious chief Sergio Marchionne within reach of his dream to position the iconic Italian automaker as a force to reckon with in the global marketplace. Italy's largest private employer, created by the legendary Agnelli family and a symbol of the country's post-war industrialisation, won the green light to spin off its non-car activities. John Elkann, Fiat's 34-year-old president and the grandson of historic boss Gianni...

MILAN: The Agnelli dynasty will crown the new czar of the Fiat automotive empire on Tuesday when John Elkann, scion of the family known as "Italy's Kennedys," takes over at the tender age of 32. Already vice chairman of Fiat, Elkann will replace 83-year-old Gianluigi Gabetti, a close associate of the Agnelli clan, at the head of IFIL, the holding company that manages a portfolio worth some eight billion euros (12 billion dollars). The iconic industrial family's...

Italy's Agnelli family has given no mandate to sell Fiat's car business, the outgoing head of the holding that controls the industrial group said in an interview published on Sunday. Gianluigi Gabetti, chairman of IFIL, made his comments before handing over the job on Tuesday to John Elkann, heir apparent of the Agnellis' Fiat empire. "No, no mandate," he told Il Sole 24 Ore business daily. Markets have long speculated on a separation of Fiat Auto from the rest of the...

MILAN: Fiat tapped Agnelli family heir John Elkann to become chairman as Italy's biggest car manufacturer prepares to carve out the auto-making unit. Fiat on Tuesday named Elkann, 34, to replace Luca Cordero di Montezemolo in the top position of the Turin-based company. Fiat has revived a plan to spin off the car division, according to two people with knowledge of the matter, who asked not to be identified prior to an announcement. Elkann, the grandson of...

PARIS: The top European automakers , led by Germany's Volkswagen, looked ahead confidently on Wednesday, putting the industry's miserable, loss-making 2009 firmly behind them. Recovering from the ravages of the worst global slump in decades, Volkswagen, Italy's Fiat and France's PSA Peugeot Citroen all said they expected this year to be much better -- even if problems remain. Europe's biggest automaker Volkswagen reported runaway...

ROME: Fiat group chairman Luca Cordero di Montezemolo is leaving his post after seven years piloting the Italian industrial giant through tough times, to be succeeded by vice chairman John Elkann, media reports said on Tuesday. Montezemolo will remain on the supervisory board, the La Repubblica newspaper reported on its website. Under his stewardship, Fiat autos weathered the economic crisis and became a key shareholder with 20 percent in US group Chrysler. ...

MILAN: The vice chairman of Italian auto group Fiat said on Tuesday that the company was in "discussions" with US group Chrysler, news agencies here reported, after trading in Fiat stock had been suspended. Amid press reports that Fiat and Chrysler are considering a strategic partnership, Fiat vice chairman John Elkann told Ansa and Radiocor agencies that the fact "we were talking about it is not a mystery, and we have been in talks about this for some time. " ...

TURIN, ITALY: Shareholders on Thursday put Fiat's ambitious chief Sergio Marchionne within reach of his dream to position the iconic Italian automaker as a force to reckon with in the global marketplace. Italy's largest private employer, created by the legendary Agnelli family and a symbol of the country's post-war industrialisation, won the green light to spin off its non-car activities. John Elkann, Fiat's 34-year-old president and the grandson of historic boss Gianni...

ROME: Fiat chairman Luca Cordero di Montezemolo is stepping down after seven years piloting the Italian industrial giant through tough times, the company said on Tuesday. "Luca Cordero Di Montezemolo will announce his intention to step down as chairman of the group during a press conference this afternoon," Fiat said in a statement. The statement did not confirm reports that Montezemolo, 62, will be succeeded by vice chairman John Elkann, the...

MILAN: Fiat vice chairman John Elkann said Tuesday that the viability of an alliance between Fiat and Chrysler won't be known until Thursday, the U.S. government's deadline for Chrysler to wrap up a deal, Italian news agencies reported. "The situation with Chrysler will be decided Thursday evening Italian time, and up until that time we won't have much to say," Elkann said at the close of meeting of Exor shareholders in Turin, according to the Italian news agencies Apcom and...

TURIN: The Fiat auto group reported on Wednesday a net loss of 21 million euros in the first quarter of 2010 instead of an expected return to profit, at a landmark point in its history. The group was also expected to unveil its keenly awaited 2010-2014 industrial plan, the day after announcing a big change in top management. The industrial giant, which recorded a net loss of 411 million euros ($552 million) in the first quarter of 2009,...

ROME: Fiat chairman Luca Cordero di Montezemolo is stepping down after seven years piloting the Italian industrial giant through tough times, the company said on Tuesday. "Luca Cordero Di Montezemolo will announce his intention to step down as chairman of the group during a press conference this afternoon," Fiat said in a statement. The statement did not confirm reports that Montezemolo, 62, will be succeeded by vice chairman John Elkann, the...

ROME: Fiat group chairman Luca Cordero di Montezemolo is leaving his post after seven years piloting the Italian industrial giant through tough times, to be succeeded by vice chairman John Elkann, media reports said on Tuesday. Montezemolo will remain on the supervisory board, the La Repubblica newspaper reported on its website. Under his stewardship, Fiat autos weathered the economic crisis and became a key shareholder with 20 percent in US group Chrysler. ...

MILAN: Fiat vice chairman John Elkann said Tuesday that the viability of an alliance between Fiat and Chrysler won't be known until Thursday, the U.S. government's deadline for Chrysler to wrap up a deal, Italian news agencies reported. "The situation with Chrysler will be decided Thursday evening Italian time, and up until that time we won't have much to say," Elkann said at the close of meeting of Exor shareholders in Turin, according to the Italian news agencies Apcom and...

MILAN: The vice chairman of Italian auto group Fiat said on Tuesday that the company was in "discussions" with US group Chrysler, news agencies here reported, after trading in Fiat stock had been suspended. Amid press reports that Fiat and Chrysler are considering a strategic partnership, Fiat vice chairman John Elkann told Ansa and Radiocor agencies that the fact "we were talking about it is not a mystery, and we have been in talks about this for some time. " ...

MILAN: Fiat is open to a merger if it will help the car sector recover from the financial crisis, the Italian auto giant's vice-chairman John Elkann said in an interview published on Tuesday. "(Fiat CEO Sergio) Marchionne has said it and I'll repeat it: Fiat wants to have a role, and so, if the conditions are right, a tie-up may be possible," Elkann told Italy's leading daily Corriere della Sera. "There are no concrete plans," he said however, noting that such...

MILAN: Global car makers will be forced to merge to survive the onslaught of the global crisis, leaving their industry with only six big players, Fiat's chief executive was quoted as saying in a report on Saturday. "The only way for companies to survive is if they make more than 5.5 million cars per year," Sergio Marchionne told the European edition of Automotive News, an industry publication. "As far as mass-producers are concerned, we're going to end up with one American...

MILAN: Global car makers will be forced to merge to survive the onslaught of the global crisis, leaving their industry with only six big players, Fiat's chief executive was quoted as saying in a report on Saturday. "The only way for companies to survive is if they make more than 5.5 million cars per year," Sergio Marchionne told the European edition of Automotive News, an industry publication. "As far as mass-producers are concerned, we're going to end up with one American house, one...

MILAN: Fiat is open to a merger if it will help the car sector recover from the financial crisis, the Italian auto giant's vice-chairman John Elkann said in an interview published on Tuesday. "(Fiat CEO Sergio) Marchionne has said it and I'll repeat it: Fiat wants to have a role, and so, if the conditions are right, a tie-up may be possible," Elkann told Italy's leading daily Corriere della Sera. "There are no concrete plans," he said however, noting that...